Stand by Me Comes to Terry Campus

DOVER – Delaware Tech’s Terry Campus will be a Financial Empowerment Center in Delaware’s $tand by Me® Financial Empowerment System. Financial empowerment is a priority of Gov. Jack Markell and is a core element of his economic development strategy. The first center was launched at Hudson State Service Center in 2011.

The goal is to make this a statewide project to improve the financial position of 8,000 economically vulnerable Delawareans in the workplace, at community colleges, and in the community with one-on-one financial coaching, access to financial services, and increased access to post-secondary education over the next three years.

$tand by Me® provides to employees and students a free custom package of services to increase the financial security of low and moderate income Delawareans. Packages such as financial coaching, help with financial aid, tax preparation, public benefits, financial literacy workshops and other financial services are available through its centers, which are collocated within businesses, public agencies, and non-profit organizations.

The $tand by Me® service model is designed to be collocated within organizations that serve the target market, but that do so with very different missions. The Delaware Financial Empowerment Partnership – composed of representatives from the state, United Way, Delaware Tech, JPMorgan Chase, and West End Neighborhood House, among many others – was formed to create and implement this innovative program. The college-based model was launched in January 2012 at the Stanton and Wilmington campuses. A center is also planned to open at the Owens Campus.

Delaware Tech was chosen because of its role in serving non-traditional students, with the program targeting college students who are newly graduated or about to graduate and want to understand how to plan for their future, including how to manage a budget in the “real world,” how to manage student loan debt, housing choices, insurance plans, and credit building – all while working and taking care of families.